Consumers and the Economic Outlook - China - March 2014
“Saving remains an important financial priority for consumers and the idea of spending the money to enjoy life now without thinking about tomorrow is still uncomfortable for many. This means that while consumers are confident about making more purchases, they are still spending within what they can afford and according to their priorities. It is therefore important for businesses to understand where consumers are more likely to allocate their spare money and the differences in their attitudes towards managing their finances.
Although China’s economic growth has slowed down to 7.7% in both 2012 and 2013, consumers are far more concerned about things that have a more immediate and direct impact on their quality of life, such as income and cost of living. After all, disposable income is still growing at above 10% and CPI growth has eased to a much lower level compared to 2011. These positive changes will continue to drive consumer confidence in spending, as reflected by a strong year-on-year growth of 13.3% during the 2014 Chinese New Year.”
Ruyi Xu, Head of Research, China
In this report, we answer the key questions:
- What do consumers think about their current financial situation and how confident are they about their financial status over the next 12 months?
- What are the most important factors impacting consumers’ willingness to spend?
- What are the financial priorities for consumers over the next 12 months?
- How are consumers going to allocate their spare money and what discretionary spending do they prioritise first?
- Is there any change to the way consumers think about saving, spending and managing their financial wellbeing under the current economic environment?
What you get
This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.
Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.
Mintel's proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.
Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.
Market reports provide appendices of data to support the research and insight produced. Our tables of data are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.
* This is a sample representation of the report layout and does not reflect the research included in this report.
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